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Volume 18 | Issue 30 | Wednesday, February 13, 2019

The Lede


Broeksmit: CRE Cycle Not About 'Innings,' but 'Phases'

SAN DIEGO--Commercial real estate has cycled up and down and up again over the past 15 years. But since 2015, CRE has been in a "new phase," said Mortgage Bankers Association President and CEO Bob Broeksmit, CMB.


Top National News

Multifamily Mortgage Lending Jumped 32% in the Fourth Quarter

HousingWire, Feb. 12, 2019--Ben Lane
The Mortgage Bankers Association recently predicted  multifamily lending was on track to set another record in 2018. And now that 2018 is over, we're starting to get a look at just how good of a year it was for multifamily lending.

Debt Funds Have Banks Struggling to Keep Pace, Fretful Lenders Declare

Commercial Observer, Feb. 12, 2019--Matt Grossman
The past decade has marked a great business cycle for lenders of all stripes. But bank executives at the Mortgage Bankers' Association‘s conference in San Diego yesterday betrayed a sense of wariness that they're being squeezed out of the running for good returns on palatable deals.

Debt Funds' Rising Influence Evident at MBA CREF

Commercial Property Executive, Feb. 12, 2019--Therese Fitzgerald
Debt funds originated about $67 billion in mortgages in 2018-about 10 percent of total originations, up from $52 billion in 2017 and $32 billion in 2016, according to Jamie Woodwell, vice president of Commercial-Multifamily Research at the Mortgage Bankers Association. "They are clearly a significant player," he said.

Ellie Mae to Be Acquired by Thoma Bravo for $3.7 Billion

HousingWire, Feb. 12, 2019--Kelsey Ramirez
Ellie Mae announced Tuesday it entered into an agreement to be acquired by Thoma Bravo, a private equity investment firm. The deal is an all-cash transaction of $3.7 billion.

SunTrust Exec Says BB&T Merger Is All About Tech

Commercial Observer, Feb. 12, 2019--Matt Grossman
Marcy Fink, the chief administrative officer at SunTrust Commercial Real Estate, said that her institution's upcoming merger with BB&T Bank is designed to build the scale needed for massive technology investments. She made the comments while speaking on a panel at the Mortgage Bankers Association conference in San Diego.

Black Knight, Others Complete D&B Acquisition; Foley Ascends to Chairman

The Mortgage Leader, Feb. 12, 2019
An investor group led by Black Knight Inc. and others has completed the acquisition of Dun & Bradstreet Inc., which had already been announced. The other lead investors include Cannae, CC Capital Partners, Bilcar, and funds affiliated with Thomas H. Lee Partners.

State AGs Assail CFPB Plan to Build Fintech Sandbox

American Banker, Feb. 12, 2019--Kate Berry (subscription)
Twenty-two Democratic state attorneys general said the Consumer Financial Protection Bureau lacks sweeping authority to create a fintech sandbox that provides immunity from state law.

Powell Says Economy Is ‘Strong' But Prosperity Missing Some Places

Bloomberg, Feb. 12, 2019--Steve Matthews
Federal Reserve Chairman Jerome Powell said the U.S. economy is "strong" though its benefits haven't been felt evenly across the country.

Residential Finance News

Anatomy of a Victory: Behind MBA’s Work on IRS Pass-Through Deduction

On January 18, the Treasury Department and the Internal Revenue Service issued final regulations providing guidance on the section 199A pass-through deduction included in the Tax Cuts and Jobs Act. The final regulations provide clarity on certain matters of importance to the Mortgage Bankers Association and its members.

Mortgage Applications Down Again in MBA Weekly Survey

Mortgage applications fell for the fourth straight week even as key interest rates fell to their lowest level in nearly a year, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending February 8.

MISMO Seeks Input on New Standardized Loan Application Dataset

MISMO®, the mortgage industry standards organization, seeks industry participants to collaborate on developing a standardized loan dataset that will correspond with the new Uniform Residential Loan Application.

CoreLogic: Delinquency, Foreclosure Rates Lowest for November Since 2000

CoreLogic, Irvine, Calif., said 4.1 percent of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in November, down by 1.1 percentage point from a year ago, when it was 5.2 percent.

Commercial/Multifamily News

GSE Multifamily Lending Grows, Adapts

SAN DIEGO--Multifamily's role in the housing market is growing--and Fannie Mae and Freddie Mac are playing an increasing role in financing multifamily real estate, GSE executives said here at the MBA CREF/Multifamily Housing Convention & Expo.

Commercial/Multifamily Briefs

Fannie Mae, Washington, D.C., will increase the loan limit of small mortgage loans to $6 million from $3 million or less nationwide and $5 million or less in high-cost markets.

Dealmaker: Berkadia Secures $50M for Multifamily

Berkadia, New York, secured $50.1 million for multifamily properties in Virginia and Missouri.

MBA News

MBA Technology Solutions Conference & Expo Mar. 24-27 in Dallas

The Mortgage Bankers Association's Technology Solutions Conference & Expo 2019 takes place Mar. 24-27 at the Hyatt Regency Dallas.

MBA Education Advanced Servicing Workshop in Orlando Feb. 25

MBA Education presents its Advanced Servicing One-Day Workshop on Monday, Feb. 25 at the MBA National Mortgage Servicing Conference & Expo in Orlando, Fla.

MBA Compliance Essentials UDAAP & FTC MAP Rule Resource Guide Available

The MBA Compliance Essentials program offers a new Resource Guide: Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) & FTC Mortgage Acts and Practices Advertising (MAP) Rule.

About MBA Newslink

President and CEO: Robert Broeksmit, CMB

Publisher: Marcia Davies, Chief Operating Officer

Vice President of Public Affairs: John Mechem

Editor: Mike Sorohan 202/557-2855 

Editorial Director: Michael Tucker 202/557-2851 

Senior Editorial/Advertising Specialist: Lesley Hall 202/557-2856

Advertising Opportunities: Bill Farmakis 203/834-8832

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